G. D. Apte & Co. Chartered Accountants

G. D. Apte & Co. Chartered Accountants Independent Auditor s Report To The Chief Executive Officer Indian Operations Report on the Financial Statements: We have audited the accompanying Financial Statements of the Indian Operations of State Bank of Mauritius Limited (the Bank) which comprise the Balance Sheet as at 31st March 2015, Profit and Loss Account and Cash flow Statement for the year then ended, and other explanatory information. The Balance Sheet and Profit and Loss Account have been drawn up in accordance with the provisions of Section 29 of the Banking Regulation Act, 1949 read with sub-section (1) and (2) of Section 129 and Section 143 of the Companies Act, 2013, of India. Management s Responsibility for the Financial Statements: Management of the Bank is responsible for the preparation of these Financial Statements that give true and fair view of the financial position and financial performance of the Bank in accordance with the Banking Regulation Act, complying with Reserve Bank of India Guidelines from time to time. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and fair presentation of the financial statements that are free from material misstatement, whether due to fraud or error. Auditors Responsibility: Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Standards on Auditing issued by the Institute of Chartered Accountants of India. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The Procedures selected depend on the auditors judgement, including the assessment of the risks of material misstatement of the financial statement, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of the accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our Audit opinion. Opinion: In our opinion and to the best of our information and according to the explanations given to us, the said accounts together with the notes thereon give the information required by the Banking Regulation Act, 1949 as well as the Companies Act, 2013, in the manner so required for the banking companies and give a true and fair view in conformity with the accounting principles generally accepted in India: Mumbai Office : Office No. 1, 2 & 3; 4th Floor, Rehematoola House, 7th Homji Street, P. M. Road, Fort, Mumbai - 400 001. Phone : + 91 22 4922 0514 Head Office : GDA House, Plot No. 85, Bhusari Colony (Right), Paud Road, Pune 411 038. Phone : + 91 20 2528 0081; Email chetan.sapre@gdaca.com 1

G. D. Apte & Co. Chartered Accountants (a) (b) (c) in the case of the Balance Sheet, statement of affairs of the Bank as at March 31, 2015; and in the case of Profit and Loss Account, of the Profit for the year ended on that date; in the case of the Cash Flow Statement, the cash flows for the year ended on that date Report on Other Legal and Regulatory Requirements: The Balance Sheet and the Profit and Loss Account have been drawn up in accordance with the provisions of section 29 of the Banking Regulation Act, 1949 read with section 129 of the Companies Act, 2013 We report that: 1. We have obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purpose of the audit and have found them to be satisfactory. 2. The transactions of the Bank which have come to our notice have been within the powers of the Bank. 3. In our opinion, proper books of account as required by law have been kept by the bank so far as it appears from our examination of those books. 4. The requirements of section 164 of the Companies Act, 2013 of India are not applicable, considering the bank as the branch of the State Bank of Mauritius Limited, which incorporated with limited liability in Republic of Mauritius. 5. We further report that: a. the Balance Sheet and Profit and Loss account dealt with by this report are in agreement with the books of accounts and returns; b. in our opinion, proper books of accounts as required by law have been kept by the branch so far as appears from our examination of those books; For G. D. Apte & Co. Chartered Accountants Firm Regn. No. : 100515W (CA. Chetan Sapre) Partner ICAI Membership No.: 116952 Place : Mumbai Date : 20th May 2015 Mumbai Office : Office No. 1, 2 & 3; 4th Floor, Rehematoola House, 7th Homji Street, P. M. Road, Fort, Mumbai - 400 001. Phone : + 91 22 4922 0514 Head Office : GDA House, Plot No. 85, Bhusari Colony (Right), Paud Road, Pune 411 038. Phone : + 91 20 2528 0081; Email chetan.sapre@gdaca.com 2

BALANCE SHEET AS AT 31ST MARCH 2015 Schedule As at 31st March 2015 (Amount in `) As at 31st March 2014 (Amount in `) CAPITAL & LIABILITIES Capital 1 5,089,682,349 5,089,682,349 Reserves & Surplus 2 507,414,140 501,293,454 Deposits 3 7,400,178,930 7,280,446,434 Borrowings 4 887,192,505 619,149,358 Other Liabilities and Provisions 5 837,253,782 767,707,517 TOTAL 14,721,721,706 14,258,279,112 ASSETS Cash and Balances with R B I 6 394,016,159 283,699,928 Balances with banks and Money at Call and Short Notice 7 723,872,944 1,829,789,637 Investments 8 5,477,012,085 4,790,582,915 Advances 9 6,613,941,642 5,769,978,509 Fixed Assets 10 696,313,925 528,184,832 Other Assets 11 816,564,951 1,056,043,291 TOTAL 14,721,721,706 14,258,279,112 Contingent Liabilities 12 18,410,017,723 35,432,821,047 Bills for Collection 2,551,828,144 3,293,723,448 Accounting Policies & Notes on Accounts 18 The Schedules referred to above form an integral part of the Balance Sheet. As per our attached Report of even date. For G. D. Apte & Co. Chartered Accountants For STATE BANK OF MAURITIUS LTD. CA. Chetan R. Sapre (Partner) Membership No. 116952 C. Vasudevan Acting CEO - Indian Operations Place : Mumbai Date : 20th May 2015 3

PROFIT AND LOSS ACCOUNT FOR PERIOD ENDED 31ST MARCH 2015 Schedule Period ended 31st March 2015 (Amount in `) Period ended 31st March 2014 (Amount in `) I. INCOME Interest earned 13 1,467,107,675 1,476,572,152 Other income 14 54,763,426 122,784,311 TOTAL 1,521,871,101 1,599,356,463 II. EXPENDITURE Interest expended 15 945,522,334 936,054,475 Operating expenses 16 162,551,175 167,785,115 Operating profit before provision and taxes 413,797,592 495,516,873 Provisions & contingencies 17 397,528,986 962,011,241 Provision for Advances 396,929,143 1,314,708,812 Provision for Investments (M-T-M) (4,248,715) 34,542,740 Provision for Taxes 4,848,558 (387,240,311) TOTAL 1,505,602,495 2,065,850,831 III. PROFIT/LOSS Net profit/loss (-) for the year 16,268,606 (466,494,368) Profit/Loss brought forward (75,287,748) 391,206,620 TOTAL (59,019,142) (75,287,748) IV. APPROPRIATIONS Transfer to Statutory Reserves 4,067,152 Transfer to Capital Reserve Transfer to Investment Fluctuation Reserve Profit remitted to Head Office Balance carried over to Balance Sheet (63,086,294) (75,287,748) TOTAL (59,019,142) (75,287,748) The Schedules referred to above form an integral part of the Profit & Loss Account. As per our attached Report of even date. For G. D. Apte & Co. Chartered Accountants For STATE BANK OF MAURITIUS LTD. CA. Chetan R. Sapre (Partner) Membership No. 116952 C. Vasudevan Acting CEO - Indian Operations Place : Mumbai Date : 20th May 2015 4

STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31ST MARCH 2015 Particulars As at 31st March 2015 (Amount in `) As at 31st March 2014 A Cash Flow from Operatng Activities Net Profit after Taxes 16,268,606 (466,494,368) Adjustments for: Depreciation Charges on Fixed Assets 8,086,769 9,700,209 Profit on sale of Fixed Assets (200,600) Provision for Standard Advances Specific Provision for NPA (17,532,921) 134,556,447 Non performing Advances / Investment written off 438,628,294 1,140,880,028 Non performing investments written off 33,331,998 Floating Provision Provision made for Deminision in fair value of restructed accounts (7,100,000) (4,292,317) Provision for interest capitalised on restructured accounts (13,866,230) 40,810,654 Depreciation on Investment (4,248,715) 1,210,742 Reversal for country provision (3,200,000) 2,754,000 Other Provisions - deffered tax 5,696,338 (357,864,519) Other Provisions - Wealth tax Prior Period IT Provision Direct Taxes (847,780) (29,375,792) Sub-Total 421,683,761 505,217,082 Adjustment for: Increase/(Decrease) in Capital Increase/(Decrease) in Deposits 119,732,496 1,294,760,800 Increase/(Decrease) in Borrowings 268,043,147 (1,756,867,988) (Increase)/Decrease in Investments (682,180,455) (189,952,682) (Increase)/Decrease in Advances (1,257,958,506) 1,075,504,769 Increase/(Decrease) in Other Liabilities 86,612,495 334,475,864 (Increase)/Decrease in Other Assets 87,071,417 (169,943,594) Net Cash from Operating Activites before Income Tax (956,995,645) 1,093,194,251 Advance Income tax paid 147,558,365 (144,607,202) Refund Recd from IT 89,264,704 Net Cash from Operating Activites after Income Tax (809,437,280) 1,037,851,753 B Cash Flow from Investing Activites Purchase of Fixed Assets (186,363,781) (221,376,190) Proceeds from sale of fixed assets 200,600 Net Cash from Investing Activites (186,163,181) (221,376,190) 5

STATEMENT OF CASH FLOW FOR THE YEAR ENDED 31ST MARCH 2015 Particulars As at 31st March 2015 (Amount in `) As at 31st March 2014 C D E Cash Flow from Financing Activities Increase/(Decrease) in Capital Dividend Paid Issue of Subordinated Bond Net Cash from Financing Activities Cash and Cash Equivalent at the beginning of the year I. Cash in Hand 3,075,294 3,882,251 (including foreign currency notes and gold) II Balances with Reserve Bank of India 280,624,634 281,132,313 III Balances with Banks and Money at 1,829,789,637 1,011,999,435 Call and Short Notice 2,113,489,565 1,297,013,999 Cash and Cash Equivalent at the end of the year I. Cash in Hand 3,189,333 3,075,294 (including foreign currency notes and gold) II Balances with Reserve Bank of India 390,826,826 280,624,634 III Balances with Bank and Money at 723,872,944 1,829,789,637 Call and Short Notice 1,117,889,103 2,113,489,565 A Cash Flow from Operating Activities (809,437,280) 1,037,851,753 B Cash Flow from Investing Activites (186,163,181) (221,376,190) C Cash Flow from Financing Activities Net change in Cash & Cash Equivalents (995,600,461) 816,475,563 D Cash and Cash Equivalent at the begininning of the year 2,113,489,565 1,297,013,999 E Cash and Cash Equivalent at the end of the year (A+B+C+D) 1,117,889,103 2,113,489,565 Note :- The cash flow statement is as per AS-3 issued by ICAI For G. D. Apte & Co. Chartered Accountants For STATE BANK OF MAURITIUS LTD. CA. Chetan R. Sapre (Partner) Membership No. 116952 C. Vasudevan Acting CEO - Indian Operations Place : Mumbai Date : 20th May 2015 6

SCHEDULES FORMING PART OF THE BALANCE SHEET SCHEDULE 1 : CAPITAL As at 31st March 2015 (Amount in `) As at 31st March 2014 Capital 4,769,584,122 4,769,584,122 At the beginning of the year 4,769,584,122 4,769,584,122 Additions during the year Retained Earnings 320,098,227 320,098,227 TOTAL 5,089,682,349 5,089,682,349 Notes: 1) Capital includes start-up (assigned) capital brought in as per RBI Prescription, in respect of Mumbai, Chennai and Hyderabad offices Rs. 822,350,000.00 2) Amount of deposit kept with RBI in the form of approved securities for March 2015 under section 11 2(b) of the Banking Regulation Act, 1949 Rs. 45,73,37,883.60 (Previous Year Rs. 42,66,00,000.00) - Face value Rs. 45,00,00,000.00 (Previous Year Rs. 45,00,00,000.00) (Amount in `) SCHEDULE 2 : RESERVES AND SURPLUS I. Statutory Reserve As at 31st March 2015 As at 31st March 2014 Opening Balance 355,812,826 355,812,826 Additions during the year 4,067,152 Deductions during the year TOTAL 359,879,978 355,812,826 II. Capital Reserve Opening Balance 58,054,335 58,054,335 Additions during the year Deductions during the year TOTAL 58,054,335 58,054,335 V. Revaluation Reserve Opening Balance 162,714,041 167,596,955 Additions during the year Deductions during the year 10,147,920 4,882,914 TOTAL 152,566,121 162,714,041 VI. Balance in Profit and Loss Account (63,086,294) (75,287,748) TOTAL ( I + II + III + IV + V ) 507,414,140 501,293,454 7

SCHEDULES FORMING PART OF THE BALANCE SHEET SCHEDULE 3 : DEPOSITS As at 31st March 2015 (Amount in `) As at 31st March 2014 A. I. Demand Deposits (i) From Banks 16,821 16,821 (ii) From Others 450,880,778 333,745,855 A. II. Savings Bank Deposits 140,742,517 570,858,737 A. III. Term Deposits (i) From Banks (ii) From Others 6,808,538,814 6,375,825,021 TOTAL 7,400,178,930 7,280,446,434 B. I. Deposits of branches in India 7,400,178,930 7,280,446,434 B. II. Deposits of branches outside India TOTAL 7,400,178,930 7,280,446,434 SCHEDULE 4 : BORROWINGS I. Borrowings in India (i) Reserve Bank of India (ii) Other Banks (iii) Other Institutions and Agencies 887,192,505 499,319,358 II. Borrowings outside India 119,830,000 TOTAL 887,192,505 619,149,358 Secured Borrowings included in I & II above 887,192,505 499,319,358 SCHEDULE 5 : OTHER LIABILITIES AND PROVISIONS I. Bills Payable 1,726,146 1,793,397 II Interest Accrued 654,036,385 474,597,159 III. Deferred Tax Liability (Net) IV. Others (including Provisions) 181,491,251 291,316,961 TOTAL 837,253,782 767,707,517 SCHEDULE 6 : CASH AND BALANCES WITH RBI I. Cash in Hand 3,189,333 3,075,294 (including Foreign Currency Notes - NIL) II. Balances with Reserve Bank of India in Current Account 390,826,826 280,624,634 TOTAL 394,016,159 283,699,928 8

SCHEDULES FORMING PART OF THE BALANCE SHEET As at 31st March 2015 (Amount in `) As at 31st March 2014 SCHEDULE 7 : BALANCES WITH BANKS & MONEY AT CALL & SHORT NOTICE I. In India i) Balances with banks in (a) Current Accounts 9,364,499 42,247,767 (b) Other Deposit Accounts ii) Money at call and short (a) with Banks 89,918,570 509,373,003 (b) with Other Institutions 700,000 700,000 TOTAL 99,983,069 552,320,770 II. Outside India i) in Current Accounts 311,389,875 378,743,867 ii) in Other Deposit Accounts 312,500,000 iii) in Money at Call and Short Notice 898,725,000 TOTAL 623,889,875 1,277,468,867 GRAND TOTAL ( I & II ) 723,872,944 1,829,789,637 SCHEDULE 8 : INVESTMENTS I. Investments in India in i) Government Securities 2,931,011,737 3,150,512,066 ii) Other Approved Securities iii) Shares 6,180,701 3,675,826 iv) Debentures and Bonds 993,872,700 791,783,900 v) Subsidiaries and /or Joint Venture vi) Others (CD & CP) 1,546,135,732 849,048,623 TOTAL 5,477,200,870 4,795,020,415 Less : Provision for Depreciation 188,785 4,437,500 TOTAL 5,477,012,085 4,790,582,915 II. Investments outside India GRAND TOTAL ( I & II ) 5,477,012,085 4,790,582,915 9

SCHEDULES FORMING PART OF THE BALANCE SHEET As at 31st March 2015 (Amount in `) As at 31st March 2014 SCHEDULE 9 : ADVANCES A i) Bills Purchased and Discounted 193,826,364 427,535,178 ii) Cash Credits, Overdrafts and Loans repayable on Demand 3,682,507,326 3,069,754,208 iii) Term loans 2,737,607,952 2,272,689,123 TOTAL 6,613,941,642 5,769,978,509 B i) Secured by Tangible Assets (includes advances against Book debts) 6,609,064,486 5,724,038,840 ii) Covered by Bank / Government Guarantees (includes Advance to Banks) 3,718,500 6,678,431 iii) Unsecured 1,158,656 39,261,238 TOTAL 6,613,941,642 5,769,978,509 C. I Advances in India i) Priority Sectors 2,755,434,102 2,737,597,187 ii) Public Sector iii) Banks iv) Others 3,858,507,540 3,032,381,322 TOTAL 6,613,941,642 5,769,978,509 II Advances outside India TOTAL (CI & CII) 6,613,941,642 5,769,978,509 SCHEDULE 10 : FIXED ASSETS I. Premises At Cost at beginning of year 390,006,490 394,610,587 Additions during the year Deductions during the year Depreciation to date 120,006,491 110,964,198 TOTAL 269,999,999 283,646,389 II. Other Fixed Assets (including Furniture & Fixtures) At Cost at beginning of year 65,793,936 58,466,625 Additions during the year 3,021,347 7,327,312 Deductions during the year 1,790,045 Depreciation to date 52,010,745 50,638,553 TOTAL 15,014,493 15,155,383 III. Capitalised Software At Cost at beginning of year 31,383,210 30,019,773 Additions during the year 3,083,862 1,363,437 Deductions during the year Depreciation to date 30,858,048 29,431,987 TOTAL 3,609,024 1,951,223 Capital Work in Progress 407,690,409 227,431,837 TOTAL ( I, II & III ) 696,313,925 528,184,832 10

SCHEDULES FORMING PART OF THE BALANCE SHEET As at 31st March 2015 (Amount in `) As at 31st March 2014 SCHEDULE 11 : OTHER ASSETS I. Inter-Office Adjustment (Net) II. Interest Accrued 213,382,501 394,948,331 III. Tax paid in Advance/Tax Deducted at Sources (Net of Provisions) 129,356,609 210,679,983 IV. Deferred Tax Assets (Net) 382,769,645 388,465,983 V. Stationery and Stamps 11,862 9,802 VI. Cash Margin Deposits with CCIL 58,975,000 57,449,850 VII. Others 32,069,334 4,489,342 TOTAL 816,564,951 1,056,043,291 SCHEDULE 12 : CONTINGENT LIABILITIES I. Claims against the Bank not acknowledged as Debts II. Liability for Partly Paid Investments III. Liability on account of outstanding Forward Exchange Contracts & Derivatives 17,582,410,760 34,619,339,039 IV. Guarantees given on behalf of Constituents a) In India 45,701,166 85,486,358 b) Outside India 80,033,379 15,310,940 V. Acceptances, Endorsements and Other Obligation 629,155,727 711,915,335 VI. Other items for which the Bank is Contingently Liable 72,716,691 769,375 TOTAL 18,410,017,723 35,432,821,047 11

SCHEDULES FORMING PART OF THE PROFIT AND LOSS ACCOUNT Year ended 31st March 2015 (Amount in `) Year ended 31st March 2014 SCHEDULE 13 : INTEREST EARNED I. Interest / Discount on Advances / Bills 540,085,614 624,346,319 II. Income on Investments 464,761,233 321,882,592 III. Interest on Balances with RBI and Other Inter-Bank Funds 15,053,894 8,270,424 IV. Others 447,206,934 522,072,817 TOTAL 1,467,107,675 1,476,572,152 SCHEDULE 14 : OTHER INCOME I. Commission, Exchange and Brokerage 8,632,297 12,659,756 II. Profit/Loss on sale of Investments 6,481,887 22,248,093 III. Profit/Loss on Revaluation of Investments IV. Profit/Loss on sale of Land Building & Other Assets 200,600 V. Profit on Exchange Transactions 24,245,084 53,528,068 VI. Income earned by way of Dividends etc. from Companies and / or Joint Ventures in India & Aboard VII. Profit/Loss on Derivative Trade (888,223) (6,993,742) VIII. Miscellaneous Income 16,091,781 41,342,136 TOTAL 54,763,426 122,784,311 SCHEDULE 15 : INTEREST EXPENDED I. Interest on Deposits 456,311,781 427,775,543 II. Interest on Reserve Bank of India /Inter Bank Borrowings 49,355,550 80,171,792 III. Others 439,855,003 428,107,140 TOTAL 945,522,334 936,054,475 SCHEDULE 16 : OPERATING EXPENSES I. Payments to and Provision for Employees 66,835,798 75,381,342 II. Exchange Commission and Brokerage 10,651,462 10,452,125 III. Rent, Taxes and Lighting 14,251,038 10,935,478 IV. Printing and Stationery 958,237 1,318,841 V. Advertisement and Publicity 239,961 193,249 VI. Depreciation on Bank s Property 8,086,769 9,700,209 VII. Auditors Fee 884,272 450,000 VIII. Law charges (incl.professional Fees) 9,377,891 7,953,684 IX. Postages, Telegrams, Telephones, etc. 3,923,789 3,693,784 X. Repairs and Maintenance 7,109,325 9,295,793 XI. Insurance 9,217,288 7,163,110 XII. Other Expenditure 31,015,345 31,247,500 TOTAL 162,551,175 167,785,115 12

SCHEDULES FORMING PART OF THE PROFIT AND LOSS ACCOUNT Year ended 31st March 2015 (Amount in `) Year ended 31st March 2014 SCHEDULE 17 : PROVISIONS & CONTINGENCIES I. Provision for Non performing advances (17,532,921) 134,556,447 II. Floating Provision on advances III. Provision for Depreciation on Investments (4,248,715) 1,210,742 IV. Provision for Income Tax (847,780) (29,375,792) V. Provision for Deferred Tax 5,696,338 (357,864,519) VI. Non performing Advances written off 438,628,294 1,140,880,028 VII. Provision on Standard Advances VIII. Charge for Country Risk Provision (3,200,000) 2,754,000 IX. Diminuation in Fair value of NPA (7,100,000) (4,292,317) X. Provision for interest capitalised on restructured accounts (13,866,230) 40,810,654 XI. Non performing investments written off 33,331,998 TOTAL 397,528,986 962,011,241 13

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 SCHEDULE 18 - SIGNIFICANT ACCOUNTING POLICIES a) Background The financial statements for the year ended March 31, 2015 comprise the accounts of the Indian branches of State Bank of Mauritius Ltd, ( the Bank ) which is incorporated in the Republic of Mauritius, Mauritius with limited liability. The bank is engaged in providing banking and financial services and is a banking company governed by the Banking Regulation Act, 1949. b) Basis of preparation The financial statements are prepared and presented in accordance with historical cost convention on the accrual basis of accounting, unless otherwise stated, and comply with the generally accepted accounting principles in India and statutory requirements prescribed under the Banking Regulation Act, 1949, circulars and the guidelines issued by the Reserve Bank of India ( RBI ), notified Accounting Standards ( AS ) by companies (Accounting Standards) Rules, 2006 (as amended) to the extent applicable and current accounting practices prevailing within the Banking industry in India. The Accounting policies have been consistently applied and are consistent with those used in the previous year. c) Use of Estimates The preparation of financial statements, in conformity with generally accepted accounting principles, requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent liabilities as at the date of the financial statements and the results of operations during the reporting period. Although these estimates are based upon management s best knowledge of current events and actions, actual results could differ from these estimates. Any revision to accounting estimates is recognized prospectively in current or future periods. d) Revenue recognition Income and expenses are recognized on accrual basis except as otherwise stated. Interest income is recognized in the Profit and Loss account on accrual basis except in case of interest on non-performing asset which is recognized on receipt basis. Interest income on discounted instruments is recognized over the tenor of the instrument on a constant effective yield basis. In case of commission on letters of credit and locker fees income is recognized upfront on its becoming due. Commission on bank guarantees issued is amortised over the period of guarantees. For all securities other than discounted instruments, weighted average cost after adjusting the depreciation booked is used to compute profit/loss on sale. In case of discounted instruments, the FIFO method is used for computing profit/loss on sale. e) Foreign Exchange Transactions Income and Expenditure items are recorded at the exchange rates prevailing on the date of the transaction. Assets and liabilities denominated in foreign currencies as at the Balance Sheet date are revalued at the year-end rates as notified by Foreign Exchange Dealers Association of India (FEDAI). Net exchange differences arising on the settlement of transactions and on account of assets and liabilities are charged or credited to the Profit and Loss account as prescribed by RBI. Outstanding forward exchange contracts are revalued at rates of exchange notified by FEDAI and the resulting profits or losses are included in the Profit and Loss account. Guarantees and Acceptances, endorsements and other obligations are stated at the year-end closing rate. f) Derivatives Derivatives are financial instruments comprises of forward exchange contracts, interest rate swaps and cross currency swaps are undertaken for either trading or hedging purposes. 14

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 SCHEDULE 18 - SIGNIFICANT ACCOUNTING POLICIES (Continued) Trading derivatives are marked to market as per the generally accepted practices prevalent in the industry and the resultant unrealized gain or loss is recognized in the Profit and Loss Account, with the corresponding net unrealized amount reflected in Other Assets or Other Liabilities in the Balance Sheet. Forward Exchange contracts and other derivative contracts which have overdue receivables which have remained unpaid over 90 days or more are classified as non-performing assets and provided as prescribed by RBI. The Bank also maintains a general provision on derivative exposures computed as per marked to market value of the contracts in accordance with the RBI guidelines. g) Investments Classification Investments are classified under Held to Maturity (HTM), Available for Sale (AFS) and Held for Trading (HFT) categories in accordance with RBI norms. For the purpose of disclosure of balance sheet they are classified under 6 groups viz. i) Government Securities, ii) Other Approved Securities, iii) Shares, iv) Debentures and Bonds v) Subsidiaries and / or joint ventures and vi) Other Investments. Valuation Investments held under HTM category are carried at acquisition cost. If the acquisition cost is more than the face value, the premium is amortized over the period remaining tenor of the investments. Investments categorized under AFS and HFT portfolio are marked to market on daily basis. Investments under AFS and HFT categories are valued as per rates declared by Primary Dealers Association of India (PDAI) jointly with Fixed Income Money Market and Derivatives Association of India (FIMMDA) and in accordance with the RBI guidelines. Consequently net depreciation, if any, under these classifications mentioned in Schedule 8 is provided for in the Profit and Loss account. The net appreciation, if any, under any classification is ignored, except to the extent of depreciation previously provided. The book value of the individual securities is not changed consequent to periodic valuation of investments. Treasury Bills, Commercial Paper and Certificate of Deposit are valued at carrying cost. Non Performing Investments are identified and provision is made as per RBI guidelines. The valuation of other unquoted fixed income securities (viz. State government securities, Other approved securities, Bonds and debentures) wherever linked to the YTM rates, is computed with a mark-up (reflecting associated credit and liquidity risk) over the YTM rates for government securities published by FIMMDA. Transfer of Securities between Categories Reclassification of investments from one category to the other, if done, is in accordance with RBI guidelines and any such transfer is accounted for at the acquisition cost/book value/market value, whichever is lower, as at the date of transfer. Depreciation, if any, on such transfer is fully provided for. Repurchase transactions Repurchase and reverse repurchase transactions (if any) are accounted for as outright sale/ purchase respectively in accordance with the prescribed RBI guidelines. The difference between the clean price of the first leg and the second leg is recognized as interest income/expense over the period of the transaction in the Profit and Loss account. Others Brokerage, fees, commission and broken period interest incurred at the time of acquisition of securities, including money market instruments, are recognized as expenses in Profit and Loss account. 15

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 SCHEDULE 18 - SIGNIFICANT ACCOUNTING POLICIES (Continued) h) Fixed Assets Office Premises is stated at revalued amount less accumulated depreciation / amortization and all other Fixed Assets are stated at cost less accumulated depreciation / amortization. Depreciation on the Fixed Assets is charged on straight-line method on a pro-rata basis, at the rates equal to or higher than those prescribed in Schedule II of the Companies Act, 2013. Type of Assets Rates (in %) Office Premises 2.00 General Plant and equipment (including Air conditioner) 10.00 EDP Equipments, Computers 33.33 Software 33.33 Furniture & Fixtures 10.00 Motor Car 20.00 Fixed assets individually costing less than rupee equivalent of Rs. 5,000 are fully depreciated in the year of purchase. Depreciation on Purchase / Sale of Fixed Assets during the year is charged on a pro-rata basis. Revaluation of Fixed Assets Premises are revalued in every five years by an independent valuer to reflect current market valuation. Appreciation, if any, on revaluation is credited to Revaluation Reserve. Depreciation on the revalued portion of asset is adjusted from revaluation reserves. Impairment of Assets The carrying amount of assets is reviewed at each balance sheet date if there is any indication of impairment based on internal / external factors. An impairment loss is recognized wherever the carrying amount of an asset exceeds its recoverable amount (i.e. the higher of the asset s net selling price and value in use). The carrying amount is reduced to the recoverable amount and the reduction is recognised as an impairment loss in the Profit and Loss account. i) Advances a) The Bank follows prudential norms formulated by RBI for classifying the assets as Standard, Sub- Standard, Doubtful and Loss assets are stated net of the required provision made on such advances. b) Provision for advances classified as Standard, Sub-Standard, Doubtful & Loss assets are made based on management s assessment, subject to minimum provisions as per RBI guidelines. j) Retirement Benefits Retirement benefit in the form of Provident fund is a defined contribution scheme and the contributions are charged to Profit & Loss account of the year when the contributions to the fund are due. There are no other obligations other than the contribution payable to the fund. Provision in respect of future liability for payment of gratuity is made on the basis of actuarial valuation on projected unit credit method made at the end of the year. Gratuity fund is being managed by LIC Group Gratuity Scheme and any actuarial gain / loss contribution determined by the actuary are charged to Profit & Loss Account and are not deferred. 16

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 SCHEDULE 18 - SIGNIFICANT ACCOUNTING POLICIES (Continued) k) Net Profit / Loss Profit/Loss for the year is arrived at after providing for non-performing advances, adjustments on valuation of investments, taxes on income, depreciation on fixed assets and other necessary and mandatory provisions. l) Taxation Income tax comprises the current tax (i.e. amount of tax for the period, determined in accordance with the Income tax Act, 1961 and the rules framed there under) and deferred tax (reflecting the tax effects of timing differences between accounting income and taxable income for the year) Provision for current tax is recognised in accordance with the provisions of Indian Income tax Act, 1961 and is made based on the tax liability after taking credit for tax allowances and exemptions. The deferred tax charge or credit and the corresponding deferred tax liabilities or assets are recognised using the tax rates that have been enacted or substantively enacted at the Balance sheet date. Deferred tax assets are recognised only to the extent there is reasonable certainty that the assets can be realised in future. However, where there is unabsorbed depreciation or carried forward loss under taxation laws, deferred tax assets are recognized only if there is virtual certainty of realization of such assets. The bank assesses / re-assesses the unrecognized deferred tax assets at each balance sheet date. m) Operating Lease Leases where the lessor effectively retains substantially all the risks and benefits of ownership over the lease term are classified as operating leases. Lease transactions are accounted in accordance with AS 19 Leases issued by ICAI. For operating leases, lease payments are recognised as an expense in the statement of Profit and Loss account on a straight line basis over the lease term. n) Accounting for Provisions, Contingent Liabilities and contingent Assets A provision is recognized when there is a present obligation as a result of a past event that probably requires an outflow of resources and a reliable estimate can be made of the amount of the obligation. A disclosure for a contingent liability is made when there is a possible obligation or a present obligation that may, but probably will not, requires an outflow of resources. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Provisions are reviewed at each Balance sheet date and adjusted to reflect the best available estimate. If it is no longer probable that an outflow of resources would be required to settle the obligation, the provision is reversed. Contingent liabilities are recognized only when there is a possible obligation arising from past events due to occurrence or non occurrence of one or more uncertain future events, not wholly within the control of the Bank, or where there is a present obligation arising from a past event which is not recognized as it is not probable that an outflow of resources will be required to settle the obligation or a reliable estimate of the amount of the obligation cannot be made. When there is a possible obligation or a present obligation in respect of which the likelihood of outflow of resources is remote, no provision or disclosure is made. Contingent Assets are not recognized in the financial statements since these may result in the recognition of an income which may never be realised. o) Cash and Cash Equivalents Cash and cash equivalents include cash in hand, balances with RBI, balances with other banks / institutions and money at call and short notice (including effect of changes in exchange rates on cash and cash equivalents in foreign currency). 17

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 SCHEDULE 18 : NOTES TO THE FINANCIAL STATEMENTS 1. Capital to Risk Assets Ratio (CRAR) I. The Banks are required to disclose capital adequacy ratio computed under Basel III capital guidelines of the RBI from the quarter ended June 30, 2013. CRAR ratio as per Basel III March 31, 2015 March 31, 2014 CRAR (BASEL III) 45.81% 39.47% CRAR Common Equity Tier I 44.70% 38.45% CRAR Tier I Capital 44.70% 38.45% CRAR Tier II Capital 1.11% 1.02% 2. Investments Particulars March 31, 2015 March 31, 2014 1. Value of Investments: (i) Gross Value of Investments a. In India 547.72 479.50 b. Outside India (ii) Provisions for Depreciation a. In India 0.02 0.44 - on transfer to securities from AFS to HTM portfolio - on securities position 0.44 b. Outside India (iii) Net Value of Investments a. In India 547.70 479.06 b. Outside India 2. Movement of provision held towards depreciation on investments: (i) Opening balance 0.44 0.32 (ii) Add: Provision made during the year 3.44 (iii) Less: Write-off/write-back of excess provision during the year (including depreciation utilized on sale of securities) 0.42 3.32 (iv) Closing balance 0.02 0.44 2. Investments (Continued) c. The net book value of investments held under the three categories, viz. Held to Maturity (HTM), Held for Trading (HFT) and Available for Sale (AFS) are as under:- Category As at March 31, 2015 As at March 31, 2014 Rs. in crores % Rs. in crores % Held to Maturity 130.26 23.78 130.61 27.26 Held for Trading 5.67 1.04 0.37 0.08 Available for Sale 411.77 75.18 348.08 72.66 Total 547.70 100.00 479.06 100.00 18

3. Repurchase & Reverse Repurchase Agreement Transactions Financial Year 2014-2015 Securities Sold under Repurchase Transactions * Minimum outstanding during the year Maximum outstanding during the year Daily Average outstanding during the year Balance as at March 31, 2015 (i) Government Securities 1.00 7.00 0.03 (ii) Corporate Debt Securities Securities purchased under Reverse Repurchase Transactions * (i) Government Securities 2.00 176.00 4.02 (ii) Corporate Debt Securities consist of RBI LAF disclosed at face value. Financial Year 2013-2014 Minimum outstanding during the year Maximum outstanding during the year Daily Average outstanding during the year Balance as at March 31, 2014 Securities Sold under Repurchase Transactions * (i) Government Securities (ii) Corporate Debt Securities Securities purchased under Reverse Repurchase Transactions * (i) Government Securities 35.00 35.00 0.10 (ii) Corporate Debt Securities consist of RBI LAF disclosed at face value. 19

4. Non-SLR Investments Portfolio - Issuer Composition of Non-SLR Investments Balances as at March 31, 2015 Sr. No. Issuer Amount Extent of Private Placement Extent of below Investment grade securities Extent of Unrated Securities Extent of Unlisted Securities 1. PSUs 14.70 Nil Nil 0.06 Nil 2. FIs 122.82 Nil Nil Nil Nil 3. Banks 98.92 Nil Nil 0.04 Nil 4. Private Corporates 0.52 Nil Nil 0.52 Nil 5. Subsidiaries / Joint Ventures Nil Nil Nil Nil Nil 6. Others* 17.67 Nil Nil 17.67 17.67 7. Provision held towards Depreciation (0.02) Nil Nil (0.02) Nil Total 254.60 Nil Nil 18.26 17.67 *This is security receipt received on sale of assets to ARC. 4. Non-SLR Investments Portfolio - Issuer Composition of Non-SLR Investments Balances as at March 31, 2014 Sr. No. Issuer Amount Extent of Private Placement Extent of below Investment grade securities Extent of Unrated Securities Extent of Unlisted Securities 1. PSUs 29.63 Nil Nil Nil Nil 2. FIs 68.80 Nil Nil Nil Nil 3. Banks 48.02 Nil Nil 0.02 Nil 4. Private Corporates 0.34 Nil Nil 0.34 Nil 5. Subsidiaries / Joint Ventures Nil Nil Nil Nil Nil 6. Others* 17.66 Nil Nil 17.66 17.66 7. Provision held towards Depreciation 0.00 Nil Nil Nil Nil Total 164.45 Nil Nil 18.02 17.66 *This is security receipt received on sale of assets to ARC. 20

5. Non Performing Non SLR Investments There are no non performing non SLR Investments as at March 31, 2015. (P.Y. Nil) Particulars March 31, 2015 March 31, 2014 Opening Balance Nil Nil Additions during the year since 1st April Nil 3.33 Reductions on account of write off during the above period Nil 3.33 Closing balance Nil Nil Total Provision held Nil Nil 6. Sale and Transfers to/ from HTM Category There are no sale and transfers to / from HTM category. 7. Forward Rate Agreement / Interest Rate Swap Particulars March 31, 2015 March 31, 2014 The notional principal of swap agreements Nil Nil Losses which would be incurred if counterparties failed to fulfill their obligations under the agreements Nil Nil Collateral required by the bank upon entering into swaps Nil Nil Concentration of credit risk arising from the swaps (with Banks) Nil Nil The fair value of the swap book [(Payable)/Receivable] Nil Nil *The Interest Rate Swap is undertaken for Hedging Purpose. 8. Exchange Traded Interest Rate Derivatives Particulars March 31, 2015 March 31, 2014 i. Notional principal amount of exchange traded interest rate derivatives undertaken during the year (instrument-wise) Nil Nil ii. Notional principal amount of exchange traded interest rate derivatives outstanding (instrument-wise) Nil Nil iii. Notional principal amount of exchange traded interest rate derivatives outstanding and not "highly effective" (instrument-wise) Nil Nil iv. Mark-to-market value of exchange traded interest rate derivatives outstanding and not "highly effective" (instrument-wise) Nil Nil 9. Disclosures on risk exposure in derivatives: a) Qualitative Disclosures The bank s derivative policy (as a part of composite risk policy) was last revised in Nov 2013. The policy covers Forwards, Interest Rate Swaps (IRS) / Forward Rate Agreements (FRAs) and Options. The policy allowed the derivative products both for hedging as well as for trading purposes. 21

b) Quantitative Disclosures Sr. No. Particulars Currency Derivatives Interest Rate Derivatives Currency Derivatives 1. Derivatives notional Principal Amount 74.77 Nil 112.16 Nil (a) For hedging 74.77 Nil 112.16 Nil (b) For trading Nil Nil Nil Nil 2. Marked to Market position 0.10 Nil 0.19 Nil (a) Asset (+) 0.10 Nil 0.19 Nil (b) Liability (-) 0.00 Nil 0.00 Nil 3. Credit Exposure 7.57 11.41 4. Likely impact of one percentage change in Interest Rate (100*PV01) (a) On hedging derivatives 0.001 0.0022 (b) On trading derivatives Nil Nil Nil Nil 5. Maximum and Minimum of 100*PV01 observed during the year (a) On hedging Maximum 0.002 1.0357 Minimum 0.001 Nil 0.0022 Nil (b) On trading Maximum Nil Nil Nil Nil Minimum Nil Nil Nil Nil Interest Rate Derivatives March 31, 2015 March 31, 2015 March 31, 2014 March 31, 2014 22

SCHEDULES FORMING PART OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED MARCH 31, 2015 10. Non-Performing Assets (NPAs) Particulars March 31, 2015 March 31, 2014 (i) Net NPAs to Net Advances (%) 7.36% 11.93 (ii) Movement of NPAs (Gross) (a) Opening balance 101.85 34.95 (b) Additions during the year 22.21 276.38 (c) Recoveries / write off s / restructure 44.13 209.48 1. Recoveries / Write Off s 44.13 172.46 2. Restructure 37.02 (d) Closing balance 79.93 101.85 (iii) Movement of Net NPAs (a) Opening balance 68.83 15.39 (b) Additions during the year 22.21 276.38 (c) Provision made during the year (Net) -1.75 13.46 (d) Recoveries / write off s / restructure 44.13 209.48 1. Recoveries / Write Off s 44.13 172.46 2. Restructure 37.02 (e) Closing balance 48.66 68.83 (iv) Movement of provisions for NPAs (excluding provision on Standard Assets) (a) Opening balance 33.02 19.57 (b) Provisions made during the year (Gross) 17.40 91.13 (c) Write-off / write-back of excess provisions 19.15 77.68 (d) Closing balance 31.27 33.02 11. Details of loan assets subjected to restructuring during the year Year 2014-15 Standard advances restructured Sub Standard advances restructured Doubtful advances restructured Total CDR Mechanism SME Debt Restructuring Others Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil 23

STATE BANK OF MAURITIUS LTD. 11. Details of loan assets subjected to restructuring during the year (Continued) Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Mechanism Others Total Sr. No. Asset Classification Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Details 1 Restructured Accounts as on April 1 of the FY (opening figures)* 2 Fresh restructuring during the year 3 Upgradations to restructured standard category during the FY 4 Restructured standard advances which cease to attract higher provisioning and / or additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY No. of borrowers 3 0 0 0 3 0 0 0 0 0 0 0 0 0 0 3 0 0 0 3 Amount outstanding 58.06 0 0 0 58.06 0 0 0 0 0 0 0 0 0 0 58.06 0 0 0 58.06 Provision thereon 3.11 0 0 0 3.11 0 0 0 0 0 0 0 0 0 0 3.11 0 0 0 3.11 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 2.20 0 0 0 2.20 0 0 0 0 0 0 0 0 0 0 2.20 0 0 0 2.20 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5 Downgradations of restructured accounts during the FY 6 Write-offs of restructured accounts during the FY 7 Restructured Accounts as on March 31 of the FY (closing figures*) No. of borrowers 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 Amount outstanding 25.19 0 0 0 25.19 0 0 0 0 0 0 0 0 0 25.19 0 0 0 25.19 Provision thereon 0.71 0 0 0 0.71 0 0 0 0 0 0 0 0 0 0.71 0 0 0 0.71 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 No. of borrowers 2 0 0 0 2 0 0 0 0 0 0 0 0 0 0 2 0 0 0 2 Amount outstanding 35.07 0 0 0 35.07 0 0 0 0 0 0 0 0 0 0 35.07 0 0 0 35.07 Provision thereon 2.40 0 0 0 2.40 0 0 0 0 0 0 0 0 0 0 2.40 0 0 0 2.40 24

11. Details of loan assets subjected to restructuring during the year Year 2013-14 Standard advances restructured Sub Standard advances restructured Doubtful advances restructured Total CDR Mechanism SME Debt Restructuring Others Number of borrowers 3 Nil Nil Amount outstanding 58.06 Nil Nil Sacrifice (diminution in the fair value) 3.11 Nil Nil Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil Number of borrowers Nil Nil Nil Amount outstanding Nil Nil Nil Sacrifice (diminution in the fair value) Nil Nil Nil Number of borrowers 3 Nil Nil Amount outstanding 58.06 Nil Nil Sacrifice (diminution in the fair value) 3.11 Nil Nil 25

STATE BANK OF MAURITIUS LTD. 10. Details of loan assets subjected to restructuring during the year (Continued) Type of Restructuring Under CDR Mechanism Under SME Debt Restructuring Mechanism Others Total Sr. No. Asset Classification Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Standard Sub-Standard Doubtful Loss Total Details 1 Restructured Accounts as on April 1 of the FY (opening figures)* 2 Fresh restructuring during the year 3 Upgradations to restructured standard category during the FY 4 Restructured standard advances which cease to attract higher provisioning and / or additional risk weight at the end of the FY and hence need not be shown as restructured standard advances at the beginning of the next FY No. of borrowers 1 0 0 0 1 0 0 0 0 0 3 0 10 0 4 4 0 1 0 5 Amount outstanding 6.67 0 0 0 6.67 0 0 0 0 0 94.29 0 14.66 0 108.95 100.96 0 14.66 0 115.62 Provision thereon 0.45 0 0 0 0.45 0 0 0 0 0 3.09 0 0 0 3.09 3.54 0 0 0 3.54 No. of borrowers 3 0 0 0 3 0 0 0 0 0 0 0 0 0 0 3 0 0 0 3 Amount outstanding 58.06 0 0 0 58.06 0 0 0 0 0 4.05 0 0 0 4.05 62.11 0 0 0 62.11 Provision thereon 3.11 0 0 0 3.11 0 0 0 0 0 0 0 0 0 0 3.11 0 0 0 3.11 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 No. of borrowers 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Amount outstanding 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Provision thereon 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 5 Downgradations of restructured accounts during the FY 6 Write-offs of restructured accounts during the FY 7 Restructured Accounts as on March 31 of the FY (closing figures*) No. of borrowers 0 0 0 0 0 0 0 0 0 0 2 0 0 0 2 2 0 0 0 2 Amount outstanding 0 0 0 0 0 0 0 0 0 0 57.54 0 0 0 57.54 57.54 0 0 0 57.54 Provision thereon 0 0 0 0 0 0 0 0 0 0 2.86 0 0 0 2.86 2.86 0 0 0 2.86 No. of borrowers 1 0 0 0 1 0 0 0 0 0 1.00 0 1 0 2 2 0 1 0 3 Amount outstanding 6.67 0 0 0 6.67 0 0 0 0 0 40.80* 0 14.66 0 55.46 47.47 0 14.66 0 62.13 Provision thereon 0.45 0 0 0 0.45 0 0 0 0 0 0.23 0 0 0 0.23 0.68 0 0 0 0.68 No. of borrowers 3 0 0 0 3 0 0 0 0 0 0 0 0 0 0 4 0 0 0 4 Amount outstanding 58.06 0 0 0 58.06 0 0 0 0 0 0 0 0 0 0 58.06 0 0 0 58.06 Provision thereon 3.11 0 0 0 3.11 0 0 0 0 0 0 0 0 0 0 3.11 0 0 0 3.11 * This includes partial write-off of Rs. 20 crores of the Zylog Systems Ltd. 26

12. Details of financial assets sold to Securitisation/ Reconstruction Company for Asset reconstruction Particulars March 31, 2015 March 31, 2014 (i) No. of accounts NIL 2 (ii) Aggregate value (net of provisions) of accounts sold to SC / RC NIL 17.68 (iii) Aggregate consideration NIL 31.09 (iv) Additional consideration realized in respect of accounts transferred in earlier years NIL NIL (v) Aggregate gain / loss over net book value NIL 13.41 13. Details of non-performing financial assets purchased/sold Particulars March 31, 2015 March 31, 2014 A. Details of non-performing financial assets purchased: NIL NIL 1 a No. of accounts purchased during the year NIL NIL b Aggregate outstanding NIL NIL 2 a Of these, number of accounts restructured during the year NIL NIL b Aggregate outstanding NIL NIL B. Details of non-performing financial assets sold: 1 No. of accounts sold NIL NIL 2 Aggregate outstanding NIL NIL 3 Aggregate consideration received NIL NIL 14. Provisions on Standard Assets Particulars March 31, 2015 March 31, 2014 Provision on Standard Assets 5.56 5.56 Provision made for Standard advances as on 31st March 2015 is included under schedule 5 of Balance Sheet Other Liabilities and provisions-others. Provision held as on 31st March 2015 is equal to 0.90% (P.Y. 1.09%) of Standard advances of Rs. 615.14 crores 15. Important Financial Ratios Particulars March 31, 2015 March 31, 2014 Interest Income as a percentage to Working Funds (%) 10.91 10.62 Non-Interest Income as a percentage to Working Funds (%) 0.41 0.88 Operating Profit as a percentage to Working Funds (%) 3.07 3.56 Return on Assets (%) 0.12 (3.32) Business (Deposits plus Advances) per employee (Rs. in crores) 26.44 22.90 Profit / (Loss) per employee (Rs. in crores) 0.03 (0.82) 27